There is no conflict between the twin objectives of growth and employment. In fact, providing productive employment is integral to inclusive growth, according to C Rangarajan, chairman of Prime Minister’s Economic Advisory Council (EAC). He was addressing a high-level regional interaction on the need for policy coherence to tackle a major employment crisis brewing in South Asia.
In the background of the ongoing debate on jobless growth in India, Rangarajan said with employment growth lagging behind output growth, sectoral employment elasticities had also declined, the sharpest fall being in agriculture and mining. Another area of concern in recent years has been the decrease in organized employment, which fell from 28.1 million in 1999 to 26.4 million in 2004, he added.
See full Press Release.
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